By Erica Houskeeper on January 31, 2020
Chinese nationals are the fastest-growing online consumer market in the world, and North American merchants will be well-positioned to serve this customer base when they accept Alipay online or in their store.
Alipay is China’s leading third-party online payment app, with more than 520 million users worldwide. In fact, Alipay is Chinese consumers’ preferred payment type. That means that Payanywhere’s recent integration with Alipay can help business owners attract new and loyal customers.
More than 3 million Chinese nationals visited the United States in 2016, and that figure is expected to nearly double to 5.7 million by 2021. This growing consumer base is a perfect opportunity for small businesses to boost revenue using Alipay with PayAnywhere.
To put the power of the Chinese consumer market into perspective, consider Alipay’s potential for California businesses. China is San Francisco’s top overseas market. Chinese tourists spend more money in San Francisco than visitors from any other country—$1.4 billion dollars in 2017, according to the San Francisco Travel Association.
This year, it’s estimated that one in every four visitor-dollars spent in San Francisco will come from a Chinese visitor. However, Chinese tourists are not keen on using credit cards and instead prefer to use cash or Alipay.
How to Accept Alipay with Payanywhere
- Select Alipay on the Payanywhere Checkout screen.
- A menu will appear on the screen with the option to “Scan with Camera” or “Type Barcode.” Select the method you prefer and follow the instructions on the next screen.
- Select “Tip Amount” (if enabled), otherwise the transaction will be approved.
- Print, email, or text the receipt.
Once merchants—including American restaurants and American retail shops—start accepting Alipay, they will be promoted within the Alipay app. Payanywhere will also send merchants an Alipay window decal and display stand to help attract even more consumers using the app.
Payanywhere is an easy and affordable smart payment solution for online businesses and brick-and-mortar establishments. Payanywhere includes payment processing, business management software, and options for paperless transactions that offer email and SMS text receipts for customers.
Alipay is operated by Ant Financial Services Group, and has been expanding in China and beyond. Alipay has evolved from a digital wallet to a lifestyle enabler. Users can hail a taxi, book a hotel, buy movie tickets, pay utility bills, make appointments with doctors, or purchase wealth management products directly from within the app.
More than 10 million brick-and-mortar merchants now accept Alipay across China. Alipay's in-store payment service is covering more than 30 countries and supports 27 currencies.
Accepting Alipay from Chinese travellers will help North American merchants build relationships with those customers and position merchants for cross-border e-commerce. When Chinese consumers visiting America return home and get back online, merchants who accept Alipay even have the potential to earn repeat business from across the Pacific.
Ready to cash in on Alipay customers? Our payment professionals can upgrade you to a free Payanywhere Smart Terminal right away. Contact us to learn more.